01 November 2010 00:00 [Source: ICB]
POLYCARBONATE PLANT RUN AT 50%
Teijin Polycarbonate China is operating its polycarbonate plant at Jiaxing in Zhejiang province at 50% utilization, because of weak demand. The 130,000 tonne/year unit was shut in mid-September for annual turnaround and restarted on October 11. A source close to the company said that Teijin Polycarbonate is not planning to ramp up production to full rate while demand remains weak.
EUROPE ABS CONTRACTS SETTLE AT ROLLOVER
Buyers and sellers of European acrylonitrile-butadiene-styrene (ABS) reached a compromise and settled October contracts at a rollover. Compounding grade ABS remained at €1,780-1,840/tonne FD (free delivered) NWE (Northwest Europe), as assessed by ICIS.
US PS PRODUCERS SEEK 5 CENT PRICE HIKE
US polystyrene (PS) producers announced 5 cent/lb ($110/tonne, €78/tonne) price hikes, effective from November 1. Rising crude oil prices, constrained benzene supply and firm ethylene costs were cited as the reasons for the price hikes, market participants said. The proposed increases apply equally to general-purpose PS and high-impact PS grades. Strong market sentiment in Asia was helping to drive up US PS costs.
EUROPE EPS FALLS SLIGHTLY FOR OCTOBER
Prices for European expandable polystyrene (EPS) fell by an average of €10/tonne ($14/tonne) in October when stability returned to the market, following volatility in earlier months this year. Contracts were dropped back to a range of €1,285-1,340/tonne FD (free delivered) as assessed by ICIS. There was some variation, such as prices declining €20/tonne in some cases.
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